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the white house won't deliver its own budget in time and still wants to raise more taxes. we're about to hear a response from a republican house member. >>> that's not all. fed chief ben bernanke is saying it must raise the debt ceiling and that the fed is going to keep buying bonds for now. on this one-month anniversary of the heinous, awful newtown shootings, the sheriff comes out in favor of banning assault weapons. "the kudlow report" begins right now. >>> first up tonight, president obama slams the republicans. he says no gimmick, no magic coins. just the plain old standoff on the debt ceiling. who is gonna blink first in this? john harwood joins us from washington with the details. good evening. >> good evening. the president used the last news conference of first term to draw an ever-brighter line with congressional republicans on the debt ceiling. they say they want dollar for dollar spending cuts to be matched with an increase in the debt ceiling. the president said i'll negotiate with you, but not over the debt ceiling. he simply is not going to allieu republicans to take th
wanted to make a comment about the tax code system. it's so complicated. i think that the government wants to do something to help out the economy, they could institute a fair tax or a flat tax, something like the libertarian candidate gary johnson was advocating last year where if you buy something you just pay the tax on it, there is no more income tax or corporate tax but a consumption type flat tax. host: do you think that would work? caller: i think that would eliminate all these loopholes people take twn tax code system. if you're married, own a house, have children, you get all these deductions and if you don't have any of those things, then you don't get to take any of those deductions so it's just not fair. if your income comes from capital gains there is a different tax rate for you. if the government wants to help bring the economy back, make everything fair across the board as far as taxes go. host: thanks for the call. we welcome our listeners and our focus this morning the role of government in solving america's problems. it was something that dwight eisenhower talked a
's at the top of the hour, you do not want to miss it. now to taxes and what we're calling many state by state tax revolt. five states are looking to eliminate state income taxes for people and corporations, they are louisiana, kansas, north carolina, oklahoma, and nebraska. if you wouldn't know it, the governor of nebraska, david henman is here and he's going to explain. thanks for joining us this morning. all of a sudden, did these states have the same epiphany or the same realization that there's only way to get the local economies going and that would be to change their taxes? >> well, i would tell you, charles, we have all looked at the economy that we're competing in, which is worldwide, and we know we need to be more tax competitive. i want to create more jobs in this state, our state, for citizens and higher paying jobs and the way to do that is to have lower income tax rates and corporate rates and in our particular case, i'm proposing the complete elimination of the income tax and the corporate tax rate. we do that by repealing some of the sales tax exemptions that we've granted over
's our fault. is a carbon tax coming? yeah, art laffer on that, too, apple may be below 500 bucks a share, we'll tell you. we've got it all. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. >> we're coming right up on the opening bell. this monday morning, we're expecting stocks to go down just a little in the opening. a very small amount, and the well has stopped ringing and that means we're open for business. what's the opening t
case or hurt his cause? we will get reaction. dagen: and intimate the state income tax. one governor laid out his case, and wayne rogers likes the idea. top of the hour, nicole petallides is covering it for you o on the floor of the new yk stock exchange. nicole: the market is likely to the downside. the trend has been the major market averages are not too far off the unchanged line. see the dog over the unchanged line 50 times in one day is not unusual to see that, however the trend had been to the upside looking like nine trading weeks we have seen the s&p 500 now hovering around the five year highs. dow jones industrials as well and the nasdaq composite as well. intel weighing on the major averages, you can see down 6.25%. if you took out intel out of the dow, the dow would be flat right now. they came up with profits that were disappointing, weak outlook. not good news for intel weighing on the major averages, but technology in general. back to you. dagen: forget about washington. our next guest says stop talking about it, investors should be focused on making money in the econom
government, directs tax dollars to specific industries was a discussion in last night's presidential debate, and it's become an important and ongoing theme in the current presidential campaign. the term on which washington assisted the finance and auto industries have also been the focus of intense debate, but probably the most contentious example of all is the one on which diana furchtgott-roth, manhattan institute senior fellow, and our speaker this afternoon, focuses in her time and important new book, "regulating to disaster: how green jobs are damaging america's economy." in it, she subjects the assumption and policies which led to such a faded federal investments as solyndra solar panel manufacture as was that a 123 collector car battery manufacture to a waiting analysis which we of the institute have come to expect from this oxford trained economist who served as chief of staff for the council of economic advisers. sorry. during the administration of president george w. bush. in her book, she helps us understand why the failures of such direct investments in private firms are both s
cannot live off that narrow band of industry forever. because of high taxes, regulation, and healthy lawsuits, government spending people are leaving. john: great davis in the '90s said we have all of this cash from the.com boom. >> he spent that cash on public sector pension promises and general spending to everybody even austerity spending has gone up. john: beyond population growth. global warning -- warming measure. >> high-speed rail that nobody wants. john: even "the terminator" the republican and i thought here is a politician quoting milton friedman. what happened? >> he enacted the largest tax increase at the state level in history. i resigned as the chief republican whip in protest. john: he also funded stem cell research. i talk to the guy pushing this and i said you could pay for this yourself why is it a government job? >> democrats wanted to stick a thumb into the eye of georgia bush just like the emission standards to say we are californians. john: then i read this organization has to be revamped, a conflict of interest, all of this money is invested? >> now with about
of state services like health and welfare, a limit on property taxes, plus republican legislators' refusal to raise taxes created a dilemma in the world's ninth largest economy. with budget cuts coming like clock work, the state's college and university systems declined in offerings and in reputation. schools suffered cutbacks in personnel and programs. services for the poor were trimmed by $15 billion since 2008. state workers were furloughed. then in 2010, promising to use his long honed political skills to fix the state, jerry browne, a democrat, was elected governor. 30 years after he held the job in the '70s. he faced a $26 billion deficit and started making more cuts and changes like transferring inmates from the state's overcrowded prisons to county jails and closing down local redevelopment agencies using the money for the state budget. meanwhile, the economy started to improve in fits and starts bringing in more tax revenue. but it all wasn't enough. brown proposed to california voters a measure to raise income taxes on the wealthy and sales taxes for everybody. to the feun of $5.
it was put in place. we just raise tax rates on the well-off so we are doing this in pieces off. declaring victory more angry at each other than they were before and making it harder to do the remaining policies is so we know what we have left we know what we have to the health care cost which the truth is we don't know how to fix the system in its entirety. we have to keep looking at ways to control health care cost and the government programs and medicare and we are going to have to go back and do this every couple of years but we have to study what works and put more of the policies that are working in place. we have to deal with our other entitlement. it's a contentious issue in this country. it's always a political tough battle. but the longer we wait to make the changes for the people the difference of the programs there is no question about that and we have to go forward with tax reform which is great when you talk about it broadly we all know the tax code is a disaster and none of us like the tax code. when you talk about the ability to broaden the base, lower the rate and raise re
as if the democrats are the parties of tax and spend, the republicans are the party of borrow and spend. did you see any evidence of the bush administration that there was any entitlement cutbacks? i don't believe most republican politicians have discipline when it comes to spending or they wouldn't have been nearly as profligate, give me a break. this won't be much of a show count. republicans -- come here, come here, the republicans, they don't want to cut spending either. embarrassing the president is one thing, but actually offering plans to cut medicare, social security, defense, oh, please. i'll believe it as i see it, even though i think it's important that it be done. both parties guilty of too much spending. the democrats witt vitriolic, t to make money to pay for it. and enough politics. the american investor figures out we're pretty long through the united states of three-ring circuses. the most important spur for investment is confidence. three issues that held up business formation and stock investing for a long time. put a drag on it. uncertainty of the presidential election, uncertain
because he's not going to do that. asking barack obama to not be a big spending high taxing liberal liberal, this is what we'll do we'll pass a year-long continuing resolution or national security, we'll pass a very short term continuing resolution for the department of labor, the department of housing and urban development, the department of the interior. there are dozens of places you can dramatically change spending without having to get involved in general crisis over the u.s. debt. >> mr. speaker i want to get your take on gun control, because as you know vice president biden is going to be delivering some 19 different recommendations to the president. also there is some controversy over the fact that the nra released a new itunes app that offers shooting practice and can be for children ages 4 years old plus. what do you think about that? >> we're having the discussions about gun control, over 500 people were killed in chicago last year the president's hometown. vice president biden doesn't want to go there, i'm trying to get the house to hold hearings
in the united states doesn't have a lot of influence on the economy, but the tax hike on the working men and women, 120 million people, that 2% payroll tax is a killer, and that is all consumption of some. people spend the mone money thet have it, they reach into savings. that was a mistake, it was bad policy. i took growth down in the u.s. by half a point. lori: and you are telling us the economy has all the potential to break out. how much o ahead when will this fiscal policy have? is there any way to recoup it? any offsetting factor? >> unless washington changes its behavior. which is not likely. then the answer is no. we have this gradual recovery. it looks all right over time, has good pieces to it, energy, housing, the banking sector actually may be getting better. lori: must be a mistake on our washington leaders, what if they can achieve a grand bargain, get entitlement reform and we can sustain this debt to gdp level for the time being we can get to underlining measures. >> it would be a glorious outcome. lori: are you optimistic at all it will happen? >> i would like it to happ
on your debt. well we have 2 1/2 trillion dollars coming into the treasury every year in tax revenue. we can use that tax revenue to pay the interest on our debt. therefore, we will not default. all this talk about being a deadbeat nation, that belies the fact that we have never, and will never default on our obligations. the obligation being to pay the interest on the debt. we're not a deadbeat nation and we're not going to default, period. yes. period. martha: comes down to the big question whether or not you will cut spending in order to not default on your debt. and that brings us to a larger question or one of the larger questions, which is whether or not we will be downgraded if we don't become more responsible with our spending? >> interesting you should raise that issue, martha, because 45 minutes ago, fitch, the ratings agency said, if we have another delay in raising this debt ceilingsing, if we have this political standoff again just like we had in 2011, fitch says we may be downgraded. his name is david reilly. he is managing director at fitch and he said if it is just like 2
give a tax credit to any one who would turn in what lawmakers are calling an assault weapon and also another measure aimed at creating the overall bigger picture of mass violence. >> at the news conference the president accused republicans of trying to collect a ransom in exchange for not crashing the u.s. economy. they are demanding more spending cuts before they agree to raise the nation's debt ceiling. the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really mig
authority is necessary. but there are some others. >> guest: some other examples. let's take corporate tax. it seems likely there will be a year long debate about corporate taxation here in washington in 2013. most businesses are global in some respect. not all but most big businesses for sure. if you're a big business and you look over to champion you'll -- over to china, you'll see promises to have 15% corporate income tax rate. you come the united states, you have no predictable, don't know what it is, and the current rate is much, much higher than that. we need reforms that say to businesses, we want you to invest here in the united states. while we're having this big debate about corporate tax reform, let's include in it specific reforms for the energy sector that in fact are designed to attract a maximum amount of new investment to build a clean energy platform let's have it by a subpart of the corporate tax reform debate. another example? the carbon tax. the carbon tax is a broad-based tax that does not in fact have to have a big impact on consumers. it could be placed on electric u
their fair share of taxes. he's just another elitist hypocrite when it comes to a fair share of security. protection for their children and gun-free zones for our kids. host: that the latest ad by the nra, put out yesterday, getting a lot of feedback about the ad invoking the president's children. the "washington times" has this headline this morning about president obama's event this morning. that is our question for all of you. if president obama acts on his own with executive action, do you support that idea? we're getting your take on that this morning. we will go to sandra in sulphur springs, texas, a republican. caller: how are you? i just have a question to ask the rest of the people listening. what about the fort hood shootings? has anybody thought about how many guns were there? the man walked in, he was a psychologist, he walked in and killed our soldiers at fort hood. . what is the gun ban going to do on that? what does obama think about that? host: what do you think about the president taking some actions on his own? caller: i don't think anybody ought to take our guns away.
in an unprecedented move he is reportedly turning his releblgs campaign into a tax exempt group to push his second term agenda. chief washington correspondent james rosen joins us live on this. >> for obama campaign staff and supporters will be gathered in washington this coming sunday. it will be a reunion of sorts. but also they will witness the launch of this new group at an event dubbed the obama legacy conference. according to a report on the web site poll lit co the pro obama organization will be a 501 c 3 a nonprofit for the legislative battle. it will be over debt, deficit, gun control immigration reform leading the organization will be jim macina who will take over the cash of 5.3 million and use it for discreet coalition of the policy battles. it is the most sophisticated in modern times in the use of multi targeting data. vice president giend who hazel lewded to a presidential run of his own spoke about a grass-roots approach in his announcement yesterday as conference as mayor. >> we are going to take this fight to the halls of congress. we are going to take it beyond that. we are goin
of industry forever. because of high taxes, regulation, and healthy lawsuits, government spending people are leaving. john: great davis in the '90s said we have all of this cash from the.com boom. >> he spent that cash on public sector pension promises and general spending to everybody even austerity spending has gone up. john: beyond population growth. global warning -- warming measure. >> high-speed rail that nobody wants. john: even "the terminator" the republican and i thought here is a politician quoting milton friedman. what happened? >> he enacted the largest tax increase at the state level in history. i resigned as the chief republican whip in protest. john: he also funded stem cell research. i talk to the guy pusng this and i said you could pay for this yourself why is it a government job? >> democrats wanted to stick a thumb into the eye of georgia bush just like the emission standards to say we are californians. john: then i read this organization has to be revamped, a conflict of interest, all of this money is invested? >> now with about the initiative another large tax incre
, he said he would not extend any of the bush tax cuts for the wealthy and you did. you say you're not going to negotiate this year, why should house republicans take that seriously and think if we did into the 1 minute until midnight scenario that you will not back down? >> first of all, julianna, let's take the example of this year's fiscal cliff. i did not say we would not have any conversations out all about extending the bush tax cuts. i said we would not extend them for the wealthy. we did not. now, you can argue that during the campaign i said i set the criteria for "wealthy" at $250 on dollars and we ended up being a $400,000, but millionaires are paying more taxes, just as i said. from the start, my concern was making sure we had a tax code that was fair and protected the middle class. when biggest priority is making sure that middle-class taxes did not go up. the difference between this year and 2011 is the fact that we have already made $2 trillion in cuts. at the time, i indicated that there were cuts that we could sensibly make that would not damage our economy, wou
to be uninsured. you're not going to have that option because when you file your taxes, you'll have to attach proof that you are in a government-mandated plan. >> gretchen: wow. >> so if you earn too much to be eligible for medicaid, you will have to go shop on the state health insurance exchanges. >> gretchen: so these health insurance exchanges, a lot of this is rolling out now. >> they'll be open in october. and most people have never heard of these. but they're like an 800 number, a web site, and a dmv type office. and they only sell the government man-dated plan. it's like going to a dealership that sells four door sedans. >> gretchen: they dictate what you're going to get. i thought obamacare was supposed to give you a choice? >> no, there really will be no choice. there will be bronze, silver, gold and platinum. but they all have the same coverage. only the co-pays differ. section 1311 puts the federal government in charge of your health care fort first time, even if you have a private plan you paid for yourself. the secretary of health and human services can still dictate what doctors
their fair share of taxes, but-- watching the drama with our economy in the middle and debating because the policy, is that your money don't miss cavuto tonight at 8. >> at 8:30 eastern time, a lot of numbers from the government. and mostly they do not affect the market and that's the case in point today. the consumer price index, no change in the month of december. over the past year, the consumer price index has gone up 1.7%, you can safely say no real inflation measured by the government at the consumer level. no impact on the market either. all right, the trading has started and the dow industrials% the opening trend is mixed. you can't say there's an opening trend one way or the other, but bear in mind the dow is at 13,500. that's a pretty high level. that will be 700 points away from the all-time high for the dow. first off though, let's check boeing. a the lot of you probably own the stock, maybe in a mutual fund, so, nicole, with all the problems for the dreamliner overnight, where-- look at that. >> look at that, it's down dramatically, almost 4 1/2%, now you're talking about
is a tax credit that was part of the economic stimulus originally, he sought $500 and i think ultimately, law was less than that. that was a classic compromise that he did not get. another compromise was his promise to repeal the bush tax cuts for higher income. his goal was couples making more than 200th $50,000 or couples making $200,000 and the fiscal cliff deal did not achieve that. we rented that a compromise. let's go to fort lauderdale,. caller: with respect to not keeping a promise for negotiations with a health kicce -- i think that a somewhat wrong. i have watched the other representatives of congress on tv every day negotiating and debating and putting their facts together. the final decision between nancy pelosi and the head of the sun -- of the senate when they finally came out with exactly what the bill would be -- it was done behind closed doors. the putting together of the bills, people putting in their amendments, was actually done on cspan every day and i watched that. secondly, with respect to these people calling about taking away guns. there is nothing about taking a
, calling for new revenues and 30% believe tax hikes are needed now and support for the president's position there ended. stuart: excellent, well, not excellent, but thanks for the informati information. [laughter] >> thanks for the information, scott rasmussen, good stuff. time for the gold report, where are we this morning? the dow is down 30. we see gold up 9 bucks, 1679 is where we are for gold. lance armstrong comes clean and he says he wants to compete again and he might rat out others to do it? whoa. sandra smith, brian, they're here, will they forgive, forget, and give him a second chance? i would not, but would they? that's next. ♪ at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. ♪ if it makes you happy, it can't be that bad ♪ >> and that's-- well, lance armstrong admit today what many people speculated for many years, he lied and cheated. the seven time tour de france winner, stripped
reason, how far does tax power go? how far does commerce power go? but the mandate that was at issue in that case in the nfib case, that's not the engine that drives the affordable care act. the engine that drives that act is the exchanges, the state exchangeses which weren't even an issue in that case but will be, i hope. here's the way this works. initially the administration and congress wanted to commandeer states to establish changes. they then realize that oops, we can't do that because there's the anti-commandeering rule and that will be unconstitutional. and insthread be a preemption regime. either you sblish an exchange under our orders and in accordance with our desire or else we will stroll into your state and do it for you. and i think it's great 18 states or something like that have said, come on in. let's go. many states have also said no to the medicaid expansion. if you want to do this, you federal government will take responsibility for the inevitable failure of these regimes. if you want to build this contraption build it on your own. there are of course, the usual
debate, it can be far harder to solve than the taxes, we think the market can be down for a while, and before it comes back up. >> so you're looking for a decline, and perhaps that is an entry point for some. do you agree with that? >> i think any decline is an opportunity to buy, maria. i'm very, very bullish on u.s. equities and one of the main reasons i am the u.s. energy story which i think is a story that's not being told as well as it should be. in 2012 the u.s. oil production was up 16%. that was the biggest year over year increase in u.s. oil production since 18 at which just happens to be when we started producing oil so if we think about what's going on. we have right now -- right now we produce oil at 80%, the same price the rest of the world does. we produce natural gas at 25% of the price the rest of the world does. we have cheap energy here in the united states and we feel that will drive manufacturing back to the united states, create jobs, and when all this political stuff is over, that's going to be a big story that we'll talk about ten years from now. >> these ar
, pay taxes, do all the other things. we transferred one of our cars to one of our sons here recently. we had to go through the motor vehicle department transfer, whatever. why somebody should be able to go into a gun show and buy any kind of a thing without any kind of the background check you might have otherwise, at least -- i -- at least not an enforceable one, i can't understand that. i really can't. i think we should have stricter background checks. i think they should be real ones. if you have the restraining orders on you, other things, we ought to be able to do that. i realize every state's different. vermont has virtually no gun laws. you can carry loaded concealed weapon in vermont this afternoon if you were there with no permit. we also have one of the lowest crime rates in the country but not because of that. we are as a society we are very law-abiding, but would that stop somebody who is mentally unhinged from going out and using a gun, knife, or anything else to kill people? no. the president's right when he says there are a whole lot of factors involved. i'm anxious to
in the capital gains tax, which didn't come to fruition, but nevertheless, prudent visitorinvestors sold the stock. and from that standpoint, the stock attracts current levels, especially out of earnings. >> susie: and earnings are coming out next week, and we'll be tracking that. and we'll see how the stock does after that. thanks, david, david garrity. >> tom: investors sorting through a slew of economic data today. u.s. industrial production hit its highest point in more than four years in december, while consumer prices, were flat last month, pointing to muted inflation pressures. still, the u.s. major averages ended mixed: the dow off 23 points, pulled lower by weakness in boeing shares, the nasdaq rose six, the s&p up just a fraction. >> susie: and the federal reserve's latest snapshot of the u.s. economy isn't picture perfect, but it is positive. today's beige book report showed signs of solid overall economic growth. each of the fed's 12 districts showed either "moderate" or "modest" growth, steady or expanding real estate activity, and some growth in consumer spending from decem
not want to do it. he actually does want to negotiate on spending and tax reform. what he does not want to do is have that take place when the republican position on the debt takes the economy hostage. that is off the table. i think the president is smart to be firm and clear on that. next time it would be democrats if we had a republican president. ashley: would you agree, i know it is out of your area, but the senate has not passed a budget in four years now. would you agree with republicans that it is not the way to go and i could, in fact, be breaking the law without i do agree with them. we actually have not passed the budget. i am with them on this concern about our inability to actually do the basic work that a legislature must do. ashley: i know bernanke, timothy geithner, rating agencies and many more states what is the point of a debt ceiling? we routinely raise it anyway. what is the purpose? >> there is no purpose. the debt ceiling has become a device for fiscal irresponsibility. republicans and democrats both dated. senator obama voted against the debt ceiling increase. if
about now closing more loopholes and that means higher taxes. we don't know on who, but he would not specify any specific spending reductions and refusing to negotiate with the house republicans on the issue of the debt ceiling. lou, an interesting couple of months. looking forward to it. >> megyn: all right. thank you, sir. >> thanks, megyn. >> megyn: with the president refuse to go negotiate on that debt ceiling, it's coming and we're going to hit it and there's going to be a real question what we will do. he negotiated the last time and suddenly says he doesn't want to negotiate anymore and the republicans have drawn a line in the sand when it comes to these spending cuts, saying, if we don't see a dollar for dollar spending cut in the amount you want to raise the debt ceiling, there's no deal. what kind of progress can we hope for here? our political panel debates that coming up in our next hour. now to another big debate playing out in washington over the obama administration's efforts to overhaul the nation's gun laws. we heard some of that this morning. here is the preside
. but there are enormous complexities in the tax accounting and operational challenge. can you say what your thinking is in that area? >> now that i have a voice again with some water, jet lag and a cold, you can't hold me back. money market funds will be one of the primary issues that the commission tackles in the coming months. you know, the process is under way, but quite frankly, we at the commission can and have been proceeding without too much reference to what's going on, and i think there is a new spirit at the commission working with the staff, industry and amongst the commissioners and the consensus that we need to take some action. obviously, there has been a lot of press about potentials involving the float. i have expressed that would be a great avenue to explore, recognizing, as you point out, there are pretty serious tax and accounting issues that have to be addressed and haven't been addressed even though this has been going around the industry for four, five years. on the accounting front, i'm hopeful that as the commission has authority over it, we can figure something out there, if
and keep going -- it needs to bring millions of people with it. the robin hood tax, the campaign the nurses have -- $350 billion a year from wall street for a minimum tax. you know what one of the legislator said to one of our nurses going to the capitol and talking about the wall street tax? she said, you nurses need to lower your expectations. the nurse looked at her and said, would you like for me to say that to you when i am prepare you for surgery? the true story. i mean, honestly, literally, it is a disgrace -- lower your expectations? i see what is happening out here every day. we're not going to lower our expectations. we're going to fight for a real economy. our economy has been hijacked -- we can talk about all the problems, talk endlessly about what i heard yesterday -- i heard about a woman yesterday. we heard about a real woman yesterday from michigan who actually chose to have her leg amputated because she could not afford the antibiotics in terms of taking care of her leg. she had her leg amputated because of money, because of money, because we do not have a health care syste
the republicans stand for, small government, low taxes, growth. there are other conservative voices calling for a broader base, rain in the right and make a direct appeal to women and minorities, retreat on social issues like gay marriage, abortion, legalize marijuana, they want compromise, at reach, inclusion and a smaller voice on contentious issues. personally i think conservatives should change the tone. enter over the election turns people off. name-calling is a loser. smile, persuade. a party of growth and optimism will surely have its place in the sun. all right, we're going to talk more about the direction of the gop in a moment but we have this breaking news. the federal reserve has released a load of documents from several closed-door meetings that it had in 2007 as the financial crisis was just getting rolling. among the in relation being released, the minutes from three emergency sessions that the fed at a time when the economy was i'm going to say, adding. there could be some dramatic exchanges, how often insiders says there had to be embarrassing stuff in there. if there wasn'
more. you do not want to miss lou dobbs coming up with his take of the situation as well. lori: one tax stock or company helping you file your tax returns is hitting a 52-week high. is there more upside the head? melissa: and retirement age racing. they plan to increase the retirement age to 70. a look at metals as we head out to break. gold trading higher by half a percentage point. copper leading the way from a percentage point of view. we will be right back. melissa: as with every 15 minutes, let's check the market. nicole is watching. nicole: i am, indeed. this is a name that has headlines and number one performer in the s&p 500 today. stellar performance, up 9.5%. there is quite a bit going on with cbs. they're turning their north and south american outdoor advertising divisions, putting some billboard divisions up for sale. one analyst says a split could unload asset values between 5,000,000,006,000,000,000. here is a one-year chart that shows you how well they set up for the one-year period the tenure charge shows how we went through the crisis. recouped all those losses and stil
stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same way that the american people do. you don't -- now, if congress want, to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's the debate that we should have. >> reporter: in this press conference that was called last minute in the east room, president obama said he will negotiate a deal on deficit reduction but not, as he put it, quote, with a gun to the head of the american people. as you know, joe, republicans are saying they're not going to increase the debt c
doesn't put tax pay thornse hook for 100% of the cost of projects that are unrelated to hurricane sandy. the amendment waives the standard local cost share for what -- for, quote, ongoing construction projects. this applies to peach renourishment projects which are typically cost shared at a 65% federal, 35% local shear. while the waiving of this local cost share for this type of pradget is uns predent, i understand that for our friends in new jersey, new york, and connecticut, hurricane sandy was also unprecedented. our amendment does not change the language with respect to repairing the beaches damaged by hurricane sandy. but unfortunately, the language could be interpreted to also waive local cost share for future periodic beach replenishment unrelated to any damage caused by hurricane sandy. these typically can take up to over a 50-year period and cans to the tens of millions of dollars. i'm confident that's not what was intended by the amendment as it was offered. but the amendment is necessary to make sure that that's not how it's interpreted at some point in the future. madam cha
. mr. wilson:section 8 the congress shall have power to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the common defense and general welfare of the united states, but all duties, imposts, and excises shall be uniform throughout the united states, mr. goodlatte: i now yield to the gentleman from texas, mr. green. mr. green: to borrow money on the credit of the united states, to regulate commerce with foreign nations, and among the several states, and with the indian tribes, to establish an uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the united states, mr. goodlatte: i now yield to the gentleman from florida, mr. nugent. mr. nugent:to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures, to provide for the punishment of counterfeiting the securities and current coin of the united states, to establish post offices and post roads, to promote the progress of science and useful arts, by securing for limited times to authors and inventors the excl
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